JFIN Stock Forecast: Chinese FinTech Jiayin May Extend Price Rally

March 19, 2021 08:56 PM AEDT | By Anuj

JFIN Stock Forecast: Chinese FinTech Jiayin May Extend Price Rally

Jiayin Group Inc. (JFIN:US or NASDAQ: JFIN)

The fintech company operates through smart data analytics and advanced algorithms to precisely evaluate the risks posed for possible borrowers. Hence, the ledger technology stock could be on their radar.

It has yielded more than 208 per cent year-to-date. Its current price is US$ 9.41 per common share, which is down 68.63 per cent against its 52-week high of US$ 30 per piece (Recorded on June 10, 2020).

Jiayin share price has risen approximately 334 per cent in one year, outperforming the S&P 500 Consumer Finance (Sub Industry) that is up 79.60 per cent in the past one year.

It has a current market cap of over US$500 million, with earnings per share of US$ 0.92. In the last three months, the stock is up nearly 214 per cent, and it has a price-to-cashflow ratio of 57.60.

In the third quarter of 2020, the firm reported a loan volume of US$ 490.5 million, a rise of 48.8 per cent quarter-over-quarter (QoQ).

Its top line was US$ 59.1 million in Q3 2020, up 63.8 per cent QoQ, representing a profit of US$ 13 million, a massive surge of 115.1 per cent QoQ.

Jiayin Group's Two-Year Stock Performance Chart. (Source: Refinitiv)

The COVID-led digital shift has boosted online services due to robust demand for cashless transactions, and Jiayin’s technology works on the same line.

Investors can keep an eye on this NFT stock to check if this recent surge could ignite it to the previous year’s high as NFTs gain momentum.

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